Re: Banking license?
Mark / defiler,
I agree it is a fair question but I dont think there is an easy answer.
In this incident, ~40,000 people have been affected. If the FCA pull Tesco Bank's licence, ~8 million people are affected. I agree something should be done, but is this the right thing? (However, I have no idea if the FCA considers things to this level, it might simply be a toothless tiger).
One point to consider is that this is a risk to the Bank not its customers. In theory, no customer should lose any money from this and Tesco are obliged to refund all the affected accounts.
This kind of means the breach is a fine on Tesco for shit security. Seems the hackers are doing the FCA's job for it....
Biting the hand that feeds IT
